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Hi. This is my first post and I'm still unsure that I'm doing it right been trading CFD's now for a few years but only occasionally. I'm keen to learn with a very small account. Is there anyone out there that has made money out of doing this or am I just chasing some dream that I'll never reach. Rob.

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    • S&P/TSX 60 Elliott Wave Analysis Trading Lounge Day Chart S&P/TSX 60 Elliott Wave Technical Analysis FUNCTION: Trend MODE: Impulsive STRUCTURE: Orange Wave 3 POSITION: Navy Blue Wave 3 DIRECTION NEXT HIGHER DEGREES: Orange Wave 3 (started) DETAILS: Orange Wave 2 of Navy Blue Wave 3 is completed. Now, Orange Wave 3 is in play. WAVE CANCEL INVALID LEVEL: 1281.11 The S&P/TSX 60 Elliott Wave Analysis on the day chart indicates an impulsive trend movement, reflecting strong and directional market behavior. The structure under scrutiny is Orange Wave 3, situated within Navy Blue Wave 3. This positioning suggests the market is experiencing the third wave of a larger third wave, indicating significant and sustained momentum in the current trend direction. The analysis specifies that the direction for the next higher degrees continues within Orange Wave 3, which has already started. This implies that the impulsive movement is expected to persist, reinforcing the strength of the ongoing trend. Details of the analysis highlight that Orange Wave 2 of Navy Blue Wave 3 is considered completed. This phase indicates the market has moved past a corrective phase and is now actively progressing in Orange Wave 3. The completion of Orange Wave 2 suggests the market is gaining momentum as it advances into the next wave phase. Currently, Orange Wave 3 is in play, marking a continuation of the strong upward trend within the broader Elliott Wave framework. The market's position within Navy Blue Wave 3, specifically in Orange Wave 3, signifies a period of robust market activity and directionality. A critical aspect of this analysis is the wave cancellation invalid level, set at 1281.11. If the market price drops below this level, it would invalidate the current wave analysis. This invalidation point is crucial for traders as it serves as a risk management tool, indicating a significant shift in market dynamics and necessitating a reevaluation of the wave structure if breached. In summary, the S&P/TSX 60 day chart analysis identifies a strong, impulsive trend within the Elliott Wave framework, focusing on Orange Wave 3 within Navy Blue Wave 3. The market has completed Orange Wave 2 and is now progressing in Orange Wave 3, indicating continued momentum. The wave cancellation invalid level at 1281.11 serves as a key risk management point for validating the current wave analysis.   S&P/TSX 60 Elliott Wave Analysis Trading Lounge Weekly Chart S&P/TSX 60 Elliott Wave Technical Analysis FUNCTION: Trend MODE: Impulsive STRUCTURE: Orange Wave 3 POSITION: Navy Blue Wave 3 DIRECTION NEXT LOWER DEGREES: Orange Wave 4 DETAILS: Orange Wave 2 of Navy Blue Wave 3 is completed. Now, Orange Wave 3 is in play. WAVE CANCEL INVALID LEVEL: 1281.11 The S&P/TSX 60 Elliott Wave Analysis on the weekly chart identifies the current market behavior as a trend that is impulsive, indicating a strong and definitive direction. The wave structure under analysis is Orange Wave 3, situated within Navy Blue Wave 3, suggesting significant upward momentum within the larger third wave. The direction for the next lower degrees is indicated as Orange Wave 4, implying that after the completion of the current impulsive wave, a corrective phase might follow. However, the market is currently focused on progressing within Orange Wave 3. The details highlight that Orange Wave 2 of Navy Blue Wave 3 is considered completed. This phase marks the end of a corrective move and the beginning of a new impulsive wave. The completion of Orange Wave 2 indicates that the market has finished its corrective phase and is now advancing in Orange Wave 3, signifying robust market activity and sustained upward movement. Presently, Orange Wave 3 is in play, indicating a continuation of the strong trend within the broader Elliott Wave framework. The market's position within Navy Blue Wave 3, specifically in Orange Wave 3, underscores the current strong upward trajectory. An important aspect of this analysis is the wave cancellation invalid level, set at 1281.11. If the market price drops below this level, it would invalidate the current wave count. This invalidation point is crucial for traders as it serves as a benchmark for risk management, indicating a potential shift in market dynamics if breached. In summary, the S&P/TSX 60 weekly chart analysis identifies an impulsive trend within the Elliott Wave structure, focusing on Orange Wave 3 within Navy Blue Wave 3. The market has completed Orange Wave 2 and is now progressing in Orange Wave 3, indicating continued upward momentum. The wave cancellation invalid level at 1281.11 serves as a key risk management point to validate the current wave count.   Technical Analyst : Malik Awais Source : Tradinglounge.com get trial here!  
    • Yes @KoketsoIG that’s the question i.e. can I transfer from my Australian bank account (AUD) to the IG USD account via money transfer companies like wise. They offer a better conversion rate than let’s say NAB or Westpac (through which we will be doing an overseas transfer request as IG account is in USD). 
    • Hi @tintin, Thank you for your response. Are you depositing AUD from your AU bank account to the IG USD account number? Or does your bank account have USD? Please note that relating to a share trading account on manual conversion, AUD deposits will remain in AUD. Thanks, KoketsoIG
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